Transborders Energy’s Small Scale Floating Liquefied Natural Gas (FLNG) project has been granted Major Project Status by the Federal Government.
The Federal Minister for Jobs and Innovation Michaelia Cash and Minister for Resources and Northern Australia, Senator the Hon Matt Canavan granted this status to the development of what is a major projects of strategic significance to Australia, and assists for facilitating timely and efficient Commonwealth approvals process.
“This project is a great example of how innovation within our existing industries is creating new jobs for Australians. Innovation isn’t just about new start-ups, innovation is doing what we currently do well and improving it,” Senator Cash said.
Senator Canavan said this project, and other FLNG developments, are helping to build Australia’s reputation in the offshore gas sector.
“The Australian Government is dedicated to ensuring Australia’s resource and energy sectors are globally competitive, innovative and continue to create jobs,” Senator Canavan said.
“We are very pleased to receive the Major Project designation, and thank the Ministers and the Major Project Facilitation Agency for their consideration and support,” said Transborders managing director, Daein Cha.
“We look forward to working with the Australian Government to deliver our predetermined, low-cost FLNG Solution for monetising a range of stranded gas resources in the Australian jurisdiction.”
Transborders Energy is working with its partners Add Energy and TechnipFMC, its technical advisor MODEC and a major Asian LNG Buyer to progress the development of the FLNG projects.
Transborders’ Generic FLNG Solution delivers a ~1.2 million tons per annum FLNG vessel with a package of streamlined processes and commercial agreements, as well the facilitation of regulatory approvals that underpin the conversion of discovered but stranded gas resources to commercially viable reserves and subsequently project sanction (Final Investment Decision).